An increasing number of families are selling their businesses to private equity (PE) investors. A key question is what the family firm is worth without the family as part of the business. We provide a buyers’ perspective on the valuation of the family firm and argue that prior family...

Prior research has not fully explained whether the relationship between family management and profitability is positive or negative in private family firms. This issue is critical for further theoretical development in the field and holds high practical relevance, given that the appointment or...

This study investigates the relationship between top management team (TMT) innovation orientation and new product portfolio performance in small and medium-sized family firms by exploring two family firm-specific sources of TMT diversity as moderators: the number of generations involved in the...

We apply organizational identity theory to examine factors that lead family firms to create a family firm image and investigate how a family firm image impacts firm performance. We find that family firm pride, community social ties, and long-term orientation are positively associated with the...

This paper develops a framework for future family firm research based on the types of family entrepreneurs, process of opportunity recognition, type of organization, environment and interactions among the aforementioned elements. In addition, future research on both economic and non-economic...